Hofokam Ltd - Agriculture Loan - MFTransparency.org Truth In Lending Tables

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Institution

Hofokam Ltd Head OfficeFort Portal, Western UgandaPO Box 228

Data approved: 2012-07-24

Data version: 2

Age of data: 148 months

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Product

Agriculture Loan Product 1 of 6 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (UGX)	UGX 629,379,090
Portfolio (USD)	USD 249,259.05
Active Clients with Loans	2,506
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	20% - 40%

Methodology

Individual	x
Solidarity group
Village banking	x
Self help group
Other

Description

Loan for economically active s and groups engaged in crop farming and livestock businesses with diversified enterprises and cashflows that can pay off the loan

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance
Workplace visits	x
Business training	x
Other training
Other
Other (2)
No other services

Eligibility

Men	x
Women	x
Must run a business	x
Must own a home or land	x
Must be a salaried worker
Must be specific age group
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	1
# Regions for this product	1
Regions Active	Western

Loan Conditions

Loan Amount

Currency	UGX
Minimum loan size	UGX 50,000
Maximum loan size	15,000,000

Distribution at Disbursement (Est.)

Loans less than UGX 1,000,000	15%
UGX 1,000,000-5,000,000	15%
UGX 5,000,000-7,500,000	20%
UGX 7,500,000-10,000,000	20%
UGX 10,000,000-13,000,000	15%
Greater than UGX 13,000,000	15%

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	8.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	10%
Between 7 and 9 months	50%
Between 10 and 12 months	40%
Between 13 and 18 months	0
Longer than 18 months	0

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly
Every 2 weeks
Every 4 weeks	x
Monthly	x
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	2.80%
Highest quoted nominal interest	2.80%
Interest rate period	Monthly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Application Fee
% of loan amount - min	2.50%
% of loan amount - max	2.50%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Life Insurance
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	30,000
Fixed amount - max	30,000
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Some
Criteria	Clients must be organised under a village bank
Is deposit indicated on the repayment schedule?	No
Do borrowers control deposit in their group?	Yes

Deposit BEFORE or AT Disbursement

% loan amount deposited	20.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	10.00%
or, Fixed-amount deposited	0
Conditions on access to deposit	Final Pmt

Interest Paid on Deposit

Minimum interest rate paid	0
Maximum interest rate paid	0
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Agriculture Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	UGX 700,000	UGX 1,000,000	UGX 2,500,000	UGX 8,800,000	UGX 9,200,000	UGX 9,900,000
Loan Cycle (1, 2, 3, etc)	1	1	2	5	1	4
Disbursement Date	2012-05-07	2012-07-23	2012-06-04	2012-07-16	2012-09-05	2012-07-02
Loan Term (Months)	9.0 months	6.0 months	10.0 months	6.0 months	6.0 months	6.0 months
Grace Period (Months)	3.1 months	3.1 months	1.0 month	6.1 months	6.0 months	6.1 months
Total Cost of Credit	UGX 205,000	UGX 205,000	UGX 717,500	UGX 1,570,000	UGX 1,640,000	UGX 1,762,500
True Price by Comp
Interest price component	41.0%	37.3%	50.1%	27.7%	28.2%	27.7%
Fee Component	5.2%	6.8%	5.9%	5.1%	5.1%	5.1%
Insurance Component	9.3%	8.4%	2.9%	0.7%	0.7%	0.6%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	25.0%	20.5%	34.4%	7.8%	7.9%	7.8%
Full APR (int fee ins tax dep)	80.5%	73.0%	93.3%	41.3%	41.9%	41.2%
Transparency Index	42	46	36	81	80	82

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF	PDF

Agriculture Loan Price Graphs

Loan Size/

Loan Term/

Custom

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AGFS	200	47,000	2	161
Ahantaman RB	23,800	9,896,000	4	143
APED	13,700	1,876,000	2	143
ASA Initiative	4,400	577,000	4	143
ASA-Ghana	71,600	18,385,000	2	143
ASPI	800	88,000	6	143
Atwima Kwanwoma	3,800	1,788,000	2	143
Baobab	5,100	967,000	2	143
BestFUND	13,000	4,172,000	3	143
Bonzali Rural	10,400	1,691,000	4	161
CashPhase	83	135,000	2	143
CASUD	1,100	524,000	1	143
CEDEF	500	54,000	4	143
CFF	100	13,000	1	143
CRAN	3,600	1,019,000	2	143
DQF	1,700	63,000	2	143
EASL	9,200	11,409,000	6	143
East Mamprusi	12,500	2,268,000	4	143
ELDA	0	0	0	143
EMPRETEC Ghana	200	56,000	2	143
FASL	13,500	14,047,000	8	143
Grameen Ghana	9,500	507,000	3	143
ID-Ghana	5,600	953,000	3	143
Innovative Finance	2,700	354,000	3	143
Kraban Support	7,700	781,000	5	161
KRB	4,000	6,350,000	3	143
Lower Pra RB	34,000	6,316,000	3	161
Maata-N-Tudu	12,000	941,000	4	143
Mail Finance	300	288,000	1	143
Markaz	0	0	0	143
Markaz Al Bishara	100	17,000	1	143
MicrofinPlus Gh	1,100	251,000	2	143
Nwabiagya RB	4,000	2,265,000	3	143
OISL	62,000	27,232,000	9	143
Pro Credit	0	0	0	143
Rich Step	100	101,000	1	143
SAT	147,600	29,359,000	4	143
Sekam Trust	600	137,000	2	143
Simli Pong	8,900	463,000	3	161
SS Ghana	200	35,000	1	143
TCCU	100	32,000	3	143
The Bridge	400	32,000	3	161
Union RB	3,800	2,361,000	4	143

Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
Loan Portfolio (USD)
% Products using declining balance
% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
	to
	to
	to ∞

Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Agriculture Loan samples

Agriculture Loan Price Graphs

Total Borrowers of Samples

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